This information is based on the statutes and guidance available as of the date of publication and is subject to change. 

2017 Tax Cuts and Jobs Act is final!

On December 22, 2017, President Trump signed into law the 2017 Tax Cuts and Jobs Act. This is the most consequential tax change in over 30 years. Below please find a very general overview of the main tax provisions of the law. We have divided the chart into business, international, and individual tax provisions. The wide range of changes are in many cases effective immediately and will require taxpayers to act quickly and to evaluate many aspects of their business and structure going forward. 

Rödl & Partner is continually analyzing the full impact of these provisions. 

Further details regarding specific aspects of the law can be found here.

  1. Compensation and Benefits Changes
  2. Capital Expense and Depreciation Changes
  3. New Interest Deduction Limitation Rules
  4. Deduction for Qualified Business Income For Non-Corporate Taxpayers
  5. Elimination of Corporate AMT and New NOL Limitations
  6. Repatriation “Toll Tax”
  7. Base Erosion and Anti-Abuse Tax (“BEAT”)
  8. Tax Accounting Considerations under Tax Reform
  9. Changes to Pass-Through Entities
  10. Property Contributions Made by Governments are Taxable
  11. New Income Inclusion for Global Intangible Low-Taxed Income (“GILTI”)
  12. 37.5% Deduction for “Foreign-Derived Intangible Income” of Domestic Corporations
  13. Limits on Deductions for Interest or Royalties Paid to Hybrids

 

 

Over the course of this web series, we will discuss the various aspects of tax reform and its impact on the German Mittelstand. View all videos »